íàçâàíèå

Ethereum Founder Vitalik Buterin Hopes Centralized Exchanges ‘Burn in Hell’

Ethereum Founder Vitalik Buterin Hopes Centralized Exchanges ‘Burn in Hell’

Ethereum co-founder Vitalik Buterin has stated that he would like to see centralized cryptocurrency exchanges “burn in hell as much as possible”, while conceding that such a time may yet be a while off.

He made the remarks while speaking at the TC Sessions Blockchain 2018 event on July 6 in Zug, Switzerland.

Responding to a question from the host on whether decentralized exchanges will someday gain greater market share than centralized exchanges, Vitalik replied:

“I definitely personally hope centralized exchanges burn in hell as much as possible. In practice, particularly on the fiat to crypto side, it is very difficult to decentralize because you ultimately are interfacing with the fiat world, and the fiat world is one that only has basically centralized gateways…There are valuable services being provided there that are very hard to decentralize.”

Vitalik went on to predict that in terms of trading cryptos for other cryptos, DEX solutions will someday become the most desirable because they offer a simple and straightforward user experience devoid of registration, web interfaces and account openings. In his opinion, the crypto world will see more and more such exchanges coming into existence.

He did however express uncertainty regarding which option will be chosen by large scale traders, professional traders and high frequency traders. Ultimately in his view, even if centralized exchanges do not go away altogether, the rise of decentralized exchanges can only be a good thing because it removes what he described as a “king making power” from exchanges.

Explaining this point he said:

“…We can really take away this stupid king making power that these centralized exchanges have where they have this ability to just decide which tokens become big by deciding to list them and then charging these crazy $10 million to $15 million listing fees. The more we can get away from that world and into something which actually satisfies the blockchain values of openness and transparency the better.”

It will be recalled that in March 2018, Binance, the world’s largest cryptocurrency exchange by volume announced that it is finalizing plans to open a decentralized exchange. Huobi also announced in June that it plans to eventually convert its entire platform to a decentralized exchange.

In what may be a growing trend with cryptocurrency exchanges, OKEx also recently went public with its plans to create a decentralized exchange platform as many analysts continue to advocate for adoption of the DEX model.

The full video of Vitalik Buterin’s talk can be found here.

Featured image from Flickr/Duncan Rawlinson.


• Join CCN's crypto community for $9.99 per month, click here.
• Want exclusive analysis and crypto insights from Hacked.com? Click here.
• Open Positions at CCN: Full Time and Part Time Journalists Wanted.
07.07.2018 / 08:00 45
Google Tries Hiring Vitalik Buterin for a Secret Crypto Project Google Tries Hiring Vitalik Buterin for
In a recent tweet, Vitalik Buterin posted a screenshot of a mail from Google with a job offer for him. He posted the mail, along with a follow-up
Ethereum’s Vitalik Buterin Receives Proposition from Google Ethereum’s Vitalik Buterin Receives
According to a tweet from the Vitalik Buterin, founder of the worlds second largest cryptocurrency Ethereum, Google has approached him to see if he
Vitalik Buterin has no Multi-Year Plan for Ethereum and That’s OK Vitalik Buterin has no Multi-Year Plan
In the world of cryptocurrency, having a long-term vision is of the utmost importance. Where Vitalik Buterin is concerned, that vision is not
Ethereum Founder Vitalik Buterin Proposes a Hard Cap of 120 million Ethereum Founder Vitalik Buterin
In a surprise post on developers forum Github today, April 1st, 2018, almost thought to be an April Fools joke by some, Vitalik Buterin suggests a
Is this the End of Crypto-Exchange Hacks – Vitalik Buterin on the Case Is this the End of Crypto-Exchange
Very well respected and famous for being the co-founder of Ethereum – Vitalik Buterin, has introduced a scaling solution which could find use by
Vitalik Reveals New Idea for Plasma Scaling On Ethereum Vitalik Reveals New Idea for Plasma
In a surprise appearance at the ethereum community conference EthCC in Paris Friday, ethereum founder Vitalik Buterin presented a scaling solution
Comments (0)
Add a comment
Comment on